Tuesday, April 28, 2009

What CC Companies Should Do

My recent bout with fraudulent charges on my credit card left me thinking really how easy it is to defraud someone. The security of any credit card transaction is null. With a camera in every phone and sub-par security on most business networks, it's a surprise fraud isn't more rampant than it already is.

I wish CC companies offered some sort of second layer of security. Like any of the following: 1. SMS me for transaction approval 2. Require a user created PIN# for approval 3. Allow me to set limits or filters that would freeze the card once a filter is triggered.

But the CC companies offer none of these things nor any comparable second layer of security. Why?